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Shipmanagers and owners, assisted by legal and insurance experts, are grappling with the complexities of drafting a clause for SHIPMAN that sets out the responsibilities for administering and surrendering emissions allowances under an Emissions Trading Scheme (ETS). Although the clause is being written to work with any ETS, the primary focus is on the EU ETS, which is the world’s largest carbon trading scheme, soon to embrace shipping.
The 75th session of the Marine Environment Protection Committee (MEPC 75), which took place online from 16 to 20 November 2020, continued the deliberations on reduction of greenhouse gas (GHG) emissions from shipping, but also adopted amendments to MARPOL Annex VI and the International Ballast Water Management Convention (BWM Convention).
The IMO’s carbon intensity indicator (CII) and Energy Efficiency Existing Ship Design Index (EEXI) will come into effect on 1st of January 2023. These measures form a key part of the IMO’s strategy to lower CO2 emissions from the industry. The weekly tanker market report by Gibson Shipbrokers - features an overview of the crude oil and oil product tanker market.
On 8 November, BIMCO is launching a new film, “No Turning Back”, the third in a series of films aimed at raising awareness about the shipping industry.